L & S Advisors Inc Acquires 14,890 Shares of BNY $BK

Key Points

• L & S Advisors Inc increased its BNY stake by 14.0% in the fourth quarter, buying 14,890 more shares and bringing its total holdings to 120,993 shares worth about $14.0 million.
• Analysts remain generally upbeat on BNY, with several firms raising price targets; the stock currently has a consensus “Moderate Buy” rating and an average target price of $138.08.
• BNY reported strong quarterly results, posting EPS of $2.25 versus $1.94 expected and revenue of $5.41 billion, while also paying a quarterly dividend of $0.53 per share for a 1.6% annualized yield.

L & S Advisors Inc grew its holdings in shares of BNY (NYSE:BK - Free Report) by 14.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 120,993 shares of the bank's stock after acquiring an additional 14,890 shares during the period. BNY comprises 1.3% of L & S Advisors Inc's holdings, making the stock its 18th largest holding. L & S Advisors Inc's holdings in BNY were worth $14,046,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Ransom Advisory Ltd grew its holdings in BNY by 1.3% during the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank's stock worth $787,000 after acquiring an additional 85 shares during the period. Mather Group LLC. grew its holdings in BNY by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank's stock worth $1,072,000 after purchasing an additional 86 shares during the period. Valeo Financial Advisors LLC grew its holdings in BNY by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank's stock worth $821,000 after purchasing an additional 94 shares during the period. Vectors Research Management LLC grew its holdings in BNY by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank's stock worth $1,507,000 after purchasing an additional 94 shares during the period. Finally, Angeles Wealth Management LLC grew its holdings in BNY by 2.6% in the third quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank's stock worth $414,000 after purchasing an additional 98 shares during the period. Institutional investors own 85.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of BNY from $143.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Weiss Ratings upgraded shares of BNY from a "buy (a-)" rating to a "buy (a)" rating in a report on Monday, May 4th. Keefe, Bruyette & Woods raised their price target on shares of BNY from $143.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Morgan Stanley raised their price target on shares of BNY from $135.00 to $139.00 and gave the stock an "equal weight" rating in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of BNY from $130.50 to $140.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, BNY presently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

BNY Stock Down 0.8%

Shares of NYSE BK opened at $134.89 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The company has a 50-day moving average price of $125.55 and a 200-day moving average price of $119.35. The stock has a market capitalization of $92.84 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.99 and a beta of 1.08. BNY has a 1 year low of $87.41 and a 1 year high of $139.15.

BNY (NYSE:BK - Get Free Report) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. BNY had a net margin of 14.60% and a return on equity of 15.29%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The firm's revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that BNY will post 8.78 EPS for the current fiscal year.

BNY Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.6%. BNY's payout ratio is 26.27%.

Insider Buying and Selling

In other BNY news, VP Shannon Marie Hobbs sold 297 shares of BNY stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president owned 15,206 shares in the company, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of BNY stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares of the company's stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last 90 days. Company insiders own 0.17% of the company's stock.

About BNY

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world's capital markets, partnering with clients to help them operate more efficiently and accelerate growth.

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